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If you invest in stocks, you might have heard some people say there’s a recession on the horizon. It was supposed to happen last year or early this year. And while the worldwide economy has been slow, we’re not in a recession just yet.
We might even not get into one. But there’s no denying the stock industry is far from recovery. If you’re thinking of investing in 2023, consider these overlooked industries. Some of them are projected to grow tremendously in the next decade.
Artificial Intelligence
Truth be told, most people didn’t care much about Artificial Intelligencadidas yeezy boost 350 mens nike air max 97 wigs sale nfl shop eagles adidas yeezy boost nike air jordan retro lesbian sex toys human hair wigs nfl jerseys nike air jordan 11 cool grey nike air jordan mid nike air jordan 11 cool grey custom nfl jerseys custom baseball jersey nfl team shop e until a couple of years ago. Now, every big tech giant is working on AI-driven solutions. OpenAI has been the face of AI startups for more than a year thanks to its record-shattering platform—ChatGPT.
Both Google and Microsoft are working on similar chatbot technologies. What’s more, many cloud-based providers are now integrating AI into their platforms to increase customer satisfaction.
Bottom line: AI is the future of online businesses. As an investor, find out the best ways to make money through this technology. You could build an AI image generator app. You could start an AI-powered writing platform. Or, you could get into the business of selling AI-driven products.
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Online Casinos
Did you know online gambling is worth a whopping $90 billion? This is more money than Hollywood and the music industry generate per year. Yet, iGaming isn’t legal globally.
As more countries legalize the industry, online casinos will grow. Consider investing in emerging gambling markets like the US, Canada, Australia, India New Zealand, and South Africa.
In New Zealand for example, iGaming isn’t licensed at a local level. But people still gamble online through offshore casinos. To invest, look at popular online casinos NZ, and see what casinos are accepting players from New Zealand. Then investigate who owns the brands and look whether you can invest the company behind it. Many Maltese gaming companies are stock listed.
Of course you can always get more hands on. Start a site that markets online casinos in these countries. Make money every time you recommend a new customer to your partner casinos. In the US and Canada, you can actually apply for licensing to launch your own casino. But keep in mind that running a gambling business can be costly.
Healthcare Technology
We all know healthcare is a multi-billion industry. But you don’t need to be a doctor to make money in this sector. All you need is to identify a gap in this market.
You could start an online pharmacy if accessing medicine in your city can be challenging. You could also partner with healthcare providers to start a remote medical company.
Another idea is to help people find the best doctors and surgeries for different treatments online. In other words, this could be a platform for reviewing hospitals and healthcare professionals.
Still on platforms, another great idea is to create an app that helps people manage chronic illnesses like diabetes, cancer, and physical ailments. You could it into a subscription-based model where you charge a subscription fee. Then you could charge extra for consultations with actual doctors.
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E-Commerce
If you’re like many people, you shop online a lot. You can probably point to at least five items in your house that you bought online. But ever considered making money by becoming an online seller? You could be the next Jeff Bezos. Or maybe not.
The best part is that don’t have to launch your online business on a big budget. You could start by leveraging online marketplaces. Become an Amazon seller. Use Facebook Marketplace or eBay.
If you’re a good marketer but lack the capital to start a business, get into drop shipping. It is one of the trendiest online businesses. For the uninitiated, this business involves running an online store without having stock.
You create a store with all the products you want to sell. But when someone orders a product, you buy it at a cheaper price and ship it to the customer. These days, you can work with suppliers to ship products directly to your customers.
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Consumer Technology
This might sound obvious to some, but consumer technology is one of the most lucrative industries in 2023. The sector’s growth skyrocketed after the pandemic and there are no signs it will slow down any time soon.
The best way to make money in consumer technology is to become a retailer. Find an under-exploited niche and look for suppliers to sell your products at a low cost.
You could specialize in video game hardware and accessories. You could get into TV and audio equipment, smart appliances, or fitness equipment. The bottom line is that you need to niche out. And you need to market your products to the right audience aggressively.
On-Demand Services
On-demand home services are projected to increase by 60% in the next five years. Homecare and design, maintenance, wellness, beauty, food, and entertainment are the biggest niches in this sector.
North America is the biggest market for on-demand businesses. Europe trails second while Asia is third. The Middle East, East Africa, Australia, and New Zealand are other regions with a growing demand for the industry.
That being said, there’s competition for almost every service. Take entertainment as an example. Netflix commands a huge market share here. Hulu, Disney, Amazon, and Apple are the biggest competitors.
In the food business, demand is even bigger. Startups for delivering food, prepping groceries, and providing at-home cooking keep cropping up.
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Online Education
More and more people are choosing to learn new skills online. In the past, the only way you could upgrade your skills was by joining a local college. These days, you don’t even need to join college.
If you know what you want to do in life early on, you can learn the skills required online. Of course, this doesn’t apply to all industries. But in sectors like programming, marketing, accounting, Human Resources and entrepreneurship, you can learn important skills online.
Because online learning is a global sector, it’s incredibly huge. The folks at Statista value the industry at $166.6 billion. And it’s growing. That means it has room for more investors.
Sell your skills online through sites like Udemy and Coursera. Make more money by selling the same skills through your website. For clarity, we mean you should create courses and sell them online.
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